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Volcano Will Strongly
Defend Against St. Jude Lawsuit
Claims Against It Are Entirely Without Merit
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July 27, 2010 -- San Diego -- Volcano Corporation (Nasdaq: VOLC) stated today that it will vigorously defend against the patent infringement lawsuit filed against it by St. Jude Medical in federal district court in Delaware. Volcano believes that the claims against it are entirely without merit, and looks forward to vindicating its rights in court.
The Complaint filed today has nothing to do with other litigation between the parties, including the action pending in Suffolk Superior Court in Massachusetts, in which no judgment has been entered and trial is still ongoing, and the action brought by Volcano in Delaware Chancery Court. Both of these other cases concern different technology than that involved in the suit filed today. About Volcano Corporation
Volcano Corporation (NASDAQ: VOLC) offers a broad
suite of devices designed to facilitate endovascular procedures, enhance the
diagnosis of vascular and structural heart disease and guide optimal therapies.
The company's intravascular ultrasound (IVUS) product line includes consoles
that can be integrated directly into virtually any modern cath lab. Volcano
IVUS offers unique features, including both single-use digital and rotational
IVUS imaging catheters, and advanced functionality options, such as VH® IVUS
tissue characterization and ChromaFlo®. Volcano also provides Image-Guided
Therapy products that combine the imaging capability of IVUS with cardiovascular
therapeutic devices. Volcano has Physiology consoles and single-use pressure
and flow guide wires. Currently, more than 5,200 Volcano IVUS and Physiology
systems are installed worldwide, with approximately half of Volcano's revenues
coming from outside the United States. Volcano is developing a line of ultra-high
resolution Optical Coherence Tomography (OCT) systems and catheters, Forward-Looking
Imaging catheters and Microcatheters. Volcano's wholly-owned subsidiary, Axsun
Technologies, develops and manufactures optical monitors, lasers and optical
engineers used in telecommunications, medical imaging, spectroscopy and other
industrial applications. For more information, visit the company's website
at www.volcanocorp.com.
Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Any statements in this release regarding Volcano's business that are
not historical facts may be considered "forward-looking statements," including
statements regarding the potential benefits of the products and procedures
described above, further development and expansion, commercial release and
market adoption of the company's technology, and the impact of clinical and
other technical data. Forward-looking statements are based on management's
current preliminary expectations and are subject to risks and uncertainties
which may cause Volcano's results to differ materially and adversely from the
statements contained herein. Some of the potential risks and uncertainties
that could cause actual results to differ from the results predicted are detailed
in the company's annual report on Form 10-K, quarterly report on Form 10-Q
and other filings made with the Securities and Exchange Commission. Undue reliance
should not be placed on forward-looking statements which speak only as of the
date they are made. Volcano undertakes no obligation to update any forward-looking
statements to reflect new information, events or circumstances after the date
they are made, or to reflect the occurrence of unanticipated events.
Source: Volcano
Corporation
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